A recessionary period occurs when the economy is expanding, meaning that the overall production of output and employment are both increasing. O True O False Question 3 2 pts The GDP deflator is calculated by dividing real GDP by nominal GDP, then multiplying by 100. O True O False Question 4 2 pts The expenditure approach of calculating GDP results in the equation: Y = C+ +G+ NX. O True O False Question 5 2 pts Between the early 1960s and late 1990s, the labor force participation rate increased 8 percentage points from 59% to 67%. This increase can be explained by the increase in women entering the work force. O True O False